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DUBLIN--(BUSINESS WIRE)--Sep 22, 2022--
The "Topical Drug Delivery Market Analysis by Product, by Route of Administration, by Facility of Use, and by Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The topical drug delivery market size is estimated to be USD 229.7 billion in 2021 and is expected to witness a CAGR of 11.51% during the forecast period 2022-2029. The high frequency of skin and soft tissue infections, rising prevalence of eye disorders and burns, are some of the key drivers for the market growth.
Additionally, the rising funding from the government organizations pharmaceutical research and growing healthcare infrastructure in developing economies is projected to drive the market growth in near future. However, presence of alternate drug delivery mechanisms such as oral and injectable methods are expected to restrain the market growth.
By Product
Based on product, the market is categorized into solid formulations, semi-solid formulations, transdermal products, and liquid formulations. In 2021, the semi-solid formulations segment accounted for the highest revenue share owing to low density, higher stability under atmospheric conditions than liquid and solid forms, and growth in customised medicine due to their distinctive composition and improved absorptive qualities make them suitable for APIs.
By Route of Administration
On the basis of route of administration, the market is segregated into ophthalmic drug delivery, dermal drug delivery, nasal drug delivery, rectal drug delivery, and vaginal drug delivery. In 2021, the dermal drug delivery segment accounted for the highest revenue share due to the elimination of frequent drug delivery and the peaks and valleys in plasma levels associated with oral dosage and injections to maintain a constant drug concentration and benefits for medications with shorter half-lives or narrow therapeutic indices.
By Facility of Use
Based on facility of use, the market is categorized into hospitals and clinics, home care settings, burn centers, and other facilities. In 2021, the segment accounted for the highest revenue share owing to benefits for long-term therapy, improved convenience over inpatient care, and greater medical adherence and treatment results, worldwide rise in the number of elderly people, and increasing need for self-administration of medications.
Regional Markets
In 2021, Asia Pacific region accounted for the highest revenue in the topical drug delivery market and is expected to maintain its dominance during the forecast period. This is attributed to high prevalence of skin problems, rising contraceptive use, and pharmaceutical companies' increased focus on R&D of smart transdermal drug delivery systems.
Segmentation: Topical Drug Delivery Market Report 2021-2029 Product (Revenue, USD Billion)
By Route of Administration (Revenue, USD Billion)
By Facility of Use (Revenue, USD Billion)
By Region (Revenue, USD Billion) North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Key Topics Covered:
1. Research Methodology
2. Introduction: Topical Drug Delivery
3. Executive Summary
4. Market Dynamics
5. Market Environment Analysis
6. COVID-19 Impact Analysis: Topical Drug Delivery Market
7. Market Analysis by Product
8. Market Analysis by Route of Administration
9. Market Analysis by Facility of Use
10. Regional Market Analysis
11. North America Topical Drug Delivery Market
12. Europe Topical Drug Delivery Market
13. Asia Pacific Topical Drug Delivery Market
14. Latin America Topical Drug Delivery Market
15. MEA Topical Drug Delivery Market
16. Competitor Analysis
17. Company Profiles
18. Conclusion & Recommendations
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/m9fvjg
View source version on businesswire.com:https://www.businesswire.com/news/home/20220922005625/en/
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KEYWORD:
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/22/2022 09:10 AM/DISC: 09/22/2022 09:12 AM
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